You have just purchased a new warehouse. To finance the purchase, youve arranged for a 30-year mortgage

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You have just purchased a new warehouse. To finance the purchase, you’ve arranged for a 30-year mortgage for 80 percent of the $4,500,000 purchase price. The monthly payment on this loan will be $27,500. What is the APR on this loan? The EAR?

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Corporate Finance

ISBN: 9781259270116

8th Canadian Edition

Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Gordon Roberts, Hamdi Driss

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Question Posted: Oct 29, 2020 07:29 AM

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You have just purchased a new warehouse. To finance the purchase, youve arranged for a 30-year mortgage

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Here we are finding interest rate for an annuity cash flowWe are given the PVA number of periods and ...View the full answer

Corporate Finance

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